The Feleti Barstow Public Library is responsible for the management and operation of its fiscal affairs. It shall establish procedures based on principles of sound bookkeeping and fiscal management, with the approval of the board, for the administration of all accounting systems, including, but not limited, general ledger, fixed assets, accounts receivable, accounts payable, payroll and cash. The board shall submit quarterly performance reports to the office of planning and budget as required by section 10.0509.